1160 Magnolia AVE Long Beach, CA 90813

We are pleased to present 1160 Magnolia Avenue, a four unit apartment building located in the City of Long Beach, California.

Built in 1920, the property is situated on a 5,523 square foot lot zoned LBPD10 near the intersection of Magnolia Avenue and N Loma Vista Drive. The property consists of one two bedroom, one bathroom unit with a den, one one bedroom, one bathroom unit with a den and two studio units. With access to the property from Magnolia Avenue and Loma Vista Drive, the property boasts a driveway capable of tandem parking three cars. All the units are individually metered for electricity and gas.

Located in the historic Wilmore area of town, this property boasts convenient access to the 710 freeway and all of downtown Long Beach. City dollars have been flowing in the Wilmore area creating soccer, basketball, and skateboarding recreation zones. Located in a strong rental market in Long Beach, the city continues to progress forward and is currently experiencing major redevelopment. The Long Beach Port is currently undergoing 4.4 billion in future redevelopments, creating 14,000 new and permanent jobs in Southern California.

Highlights:
-Recent Renovations: 2 of 4 units completely renovated, two brand new electric water heaters, brand new exterior woodwork and paint, and newly installed turf
-Value-Add: A new investor has the opportunity to capitalize on the strong rental demand in the area and bring the two studio units up to market
-Opportunity Zone